Bajaj Electricals share price rose 6 percent in early trade on October 16 after the company received a contract for supply of services by Power Grid Corporation of India Limited for, and on behalf of, their SPV M/s Ananthpuram Kurnool Transmission. At 09:17 hrs Bajaj Electricals was quoting at Rs 1,137.25, up Rs 65.05, or 6.07 percent on the BSE.
The scope of the work order is a 400kV New Transmission Line -83.12km and 400kV New Transmission Line - 183km at Ananthapur and Kurnool, Andhra Pradesh, respectively. The value of the said contract is Rs 564.20 crore and to be completed within 21 months from the date of issue of their respective NOA/LOA.
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Brokerage house Prabhudas Lilladher expects the company to report net profit at Rs 58.5 crore, down 8.5% year-on-year, for the quarter ended September 2023.
Net Sales are expected to decrease 0.4 percent Y-o-Y (up 9.3 percent Q-o-Q) to Rs. 1,215.7 crore, according to Prabhudas Lilladher.
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